Necessary to adjust rates in Ghana

The current high wholesale and retail interest rates in Ghana are a major concern to firms and consumers as well as policymakers. It is urgent for policymakers to take the necessary steps in lowering interest rates, according to NAI researcher George Adu. Furthermore, it is important to focus on the lending rate charged by commercial banks, as the spread between lending and deposit rate influences households’ consumption, Adu writes in an article in Journal of African Business.